Deepak Nitrite Limited has informed the Exchange about General Updates
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Deepak Nitrite Limited announced that its wholly owned subsidiary, Deepak Chem Tech Limited (DCTL), has issued and allotted 1,20,00,000 (12 crore) 9% Optionally Convertible Redeemable Preference Shares (OCRPS) at ₹100 each, aggregating to ₹120 Crores to another wholly owned subsidiary, Deepak Phenotics Limited (DPL). This is an inter-subsidiary fund transfer on an arms length basis. The purpose is to strengthen DCTL's capital base and support its ongoing project expenses across various sites in Gujarat. DCTL operates plants for Fluorination, Nitric Acid, Nitration, and Hydrogenation, with FY 2025-26 turnover of ₹172.23 Crores. Deepak Nitrite continues to hold 100% of DCTL's equity share capital.
This is an internal restructuring between wholly owned subsidiaries and does not directly impact Deepak Nitrite's public shareholders or stock price. It reflects the company's continued investment in its chemical manufacturing subsidiary's expansion plans.